The Real Deal Miami

Noble Investment Group buys Marriott Renaissance for $48M

Atlanta-based Noble Investment Group purchased a Renaissance by Marriott Fort Lauderdale, according to Broward County records, for $48.1 million this week.

The Renaissance by Marriott Fort Lauderdale Cruise Port Hotel, at 1617 Southeast 17th Street, was built in 2001. It includes a pool, spa, business center, gym and restaurant. The 254,600-square-foot hotel includes more than 10,000 square feet of flexible meeting and boardroom space, according to a Noble Investment Group press release.

RFL MTGL8, managed by Diego Rico, was the seller. The Palm Beach Gardens-based company paid $40 million for the 3.3-acre property in December 2012, Broward property records show.